Aequitas
Describe and account for the historical development of equity and consider (think about) the contemporary (existing) significance (implication) of equitable principles.
In Roman mythology, Aequitas, also known as Aecetia, was the goddess of fair trade and honest merchants. Like Abundantia, she is depicted with a cornucopia, representing wealth from commerce. She is also shown holding a balance, representing equity and fairness. Aequitas is the source of the word equity, and also means "equality" or "justice" (Wikipedia 07).
English law has deep historical roots and equity started due to the imperfections of the common law system. In 1066 William 1st invaded and conquered England; he claimed ownership of the country under the concept …show more content…
Early feudal rulers required that compensatory damages be paid not to the offended party but to the lord. The right of a lord to collect the profits resulting from the administration or Justice eventually became an essential force in the development of common law.
As early as the 15th century, it became the practice that litigants who felt cheated by the common-law system would petition the King in person. For example, they might argue that an award of damages (at common law) was not sufficient redress for a trespasser occupying their land, and instead request that the trespasser be evicted, from this developed the system of equity.
People started petitioning the King for relief against unfair judgments and as the number of petitioners rapidly grew, the King delegated the task of hearing petitions to the Lord Chancellor. The first Chancellors were men of the cloth, and they were required to pass judgment guided by their conscience and based on morals and equality.
As these Chancellors had no legal training, and were not guided by precedent, their decisions were often widely diverse. However, in 1529 a lawyer, Sir Thomas More, was appointed as Chancellor, this was the beginning of a new era, from then on all future Chancellors were lawyers, and from around 1557 onwards, records and equitable doctrines were
In Roman mythology, Aequitas, also known as Aecetia, was the goddess of fair trade and honest merchants. Like Abundantia, she is depicted with a cornucopia, representing wealth from commerce. She is also shown holding a balance, representing equity and fairness. Aequitas is the source of the word equity, and also means "equality" or "justice" (Wikipedia 07).
English law has deep historical roots and equity started due to the imperfections of the common law system. In 1066 William 1st invaded and conquered England; he claimed ownership of the country under the concept …show more content…
Early feudal rulers required that compensatory damages be paid not to the offended party but to the lord. The right of a lord to collect the profits resulting from the administration or Justice eventually became an essential force in the development of common law.
As early as the 15th century, it became the practice that litigants who felt cheated by the common-law system would petition the King in person. For example, they might argue that an award of damages (at common law) was not sufficient redress for a trespasser occupying their land, and instead request that the trespasser be evicted, from this developed the system of equity.
People started petitioning the King for relief against unfair judgments and as the number of petitioners rapidly grew, the King delegated the task of hearing petitions to the Lord Chancellor. The first Chancellors were men of the cloth, and they were required to pass judgment guided by their conscience and based on morals and equality.
As these Chancellors had no legal training, and were not guided by precedent, their decisions were often widely diverse. However, in 1529 a lawyer, Sir Thomas More, was appointed as Chancellor, this was the beginning of a new era, from then on all future Chancellors were lawyers, and from around 1557 onwards, records and equitable doctrines were